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Work starts on low-income housing
State-owned Sai Gon Real Estate Corporation (Resco) has launched a low-income housing project that will house more than 1000 households.
The municipal administration had earlier appointed Resco as the investor for the project located in Binh Chanh District’s Tan Nhut Commune.
Covering a total area of around 50.000sq.m, the project will include four blocks with 290 apartments for low-income households, a kindergarten and a dormitory with 933 rooms for single workers.
Total investment of the project is estimated at VND 800 billion (US$43 million).
General director of Resco, Nguyen Tin Trung, said the 45-70sq.m apartments will be sold at around VND430-670 million each ($23,000-36,000), while the dormitory rooms would be rented out at VND150,000 ($8) per worker per month.
The project aims to meet the accommodation demand of workers at the Le Minh Xuan Industrial Park and other low-income residents in the neighbourhood.
The project is scheduled for completion by the end of 2012, the company said.
vietnamnews
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